Douglas N. Comings, Senior Vice President and Chief Operating Officer of Chili's, a division of Brinker International, Inc. (NYSE:EAT), recently reported significant transactions involving the company's stock. According to a Form 4 filing with the Securities and Exchange Commission, Comings sold a total of 7,783 shares of common stock on November 4, 2024, at an average price of $107.96 per share. This transaction amounted to a total value of approximately $840,252.
In addition to the sale, Comings also acquired shares through the exercise of stock options. He exercised options to acquire 1,946 shares at a price of $38.51 per share and 5,837 shares at a price of $43.35 per share. The total value of these acquisitions was approximately $327,974.
Following these transactions, Comings holds 41,826 shares directly. He also has an indirect holding of 1,916.04 shares through the Brinker International, Inc. 401(k) Savings Plan.
In other recent news, Brinker International has seen several adjustments to its stock target by different financial firms. Piper Sandler raised its target by over 55% to $97, maintaining a Neutral rating after strong Q1 results, which included a significant 14.1% increase in same-store sales (SSS) for Chili's. Stifel also raised its Brinker stock target, maintaining a buy rating on the stock due to sales momentum and raised its full-year fiscal year 2025 earnings per share (EPS) estimate for Brinker to $5.40.
KeyBanc Capital Markets adjusted its price target for Brinker to $115, retaining an Overweight rating on the stock after Brinker's Q1 results surpassed consensus estimates. Evercore ISI increased its price target for Brinker to $110, maintaining an In Line rating, following an assessment of Brinker's Q1 results and subsequent discussions with the company. BMO (TSX:BMO) Capital Markets shifted its rating from Outperform to Market Perform, raising its price target for the company's shares to $105.
These recent developments reflect Brinker's confidence in its growth trajectory and its commitment to operational efficiency. The company's strong start to fiscal 2025, marked by increased sales and profitability, sets a positive tone for the forthcoming quarters.
InvestingPro Insights
The recent stock transactions by Douglas N. Comings, Senior Vice President and Chief Operating Officer of Chili's, come at a time when Brinker International, Inc. (NYSE:EAT) is experiencing significant market momentum. According to InvestingPro data, the company's stock has shown remarkable performance, with a 213.59% price total return over the past year and a 90.89% return in the last six months. This strong performance aligns with an InvestingPro Tip indicating that the stock is trading near its 52-week high, with the current price at 96.88% of that peak.
The company's financial health appears robust, with revenue for the last twelve months reaching $4.54 billion, representing an 8.39% growth. Additionally, Brinker International has demonstrated profitability, with an adjusted operating income of $306.2 million and an EBITDA of $481.4 million for the same period.
However, investors should note that the stock's RSI suggests it may be in overbought territory, as highlighted by another InvestingPro Tip. This could indicate that the recent strong performance might face some near-term challenges.
For those interested in a deeper analysis, InvestingPro offers 13 additional tips for Brinker International, providing a more comprehensive view of the company's financial position and market outlook.
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